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Nicola Mira
Jul 5, 2016
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ParkLake to open in Bucharest in Sept

Translated by
Nicola Mira
Jul 5, 2016

On 1st September the ParkLake shopping mall will open in Bucharest, Romania. The mall is the latest to be developed by Sonae Sierra and Caelum Development. It features an exclusive, eco-sustainable design offering a mix of entertainment, sport and of course shopping, with several brands and stores new to the Romanian market. Sonae Sierra and Caelum Development have jointly financed the €180 million investment for the mall's creation. Over 97% of the gross leasable area (GLA) has already been assigned, to over 200 shops.

A rendered image of the new ParkLake shopping mall - Sonae Sierra

Forever 21, Play Park, Lanidor and Lynne are among the brands that will be launched on the Romanian market through the new mall. Other leading brands at ParkLake include: H&M, all of the Inditex brands available in Romania (Zara, Massimo Dutti, Zara Home, Oysho, Bershka, Stradivarius and Pull & Bear), Levi’s, Motivi, Tommy Hilfiger, Gant & Lacoste, Lee Cooper, Geox, Aldo, Desigual, Swarovski, Fossil, Douglas, Sephora, Yves Rocher and many more.

The Zara Home, Bonsai, Altex and Arsis brands will offer a range of home decoration goods, electrical appliances and home electronics. MaxiToys, Smyk, Mothercare, Lego and Carturesti will offer toys and a large book store. ParkLake will also feature a wide range of sportswear brands and retailers, including Hervis, Intersport, Nike, Adidas and Sketchers.

The catering area is equipped with a spacious terrace and will provide a selection of bars and restaurants, such as KFC, Pizza Hut, Paul, Wu Xing, Brioche Dorée, Starbucks, Gloria Jean’s Coffees, K-Grill, Oro Toro (by OSHO), Bistrot du Paris, La Cerdac, Chopstix, SaladBox and many more. ParkLake will also be home to a 14-theatre Multiplex cinema managed by Cinema City.
"ParkLake will deliver a new vision for shopping and leisure activities in Bucharest. What we are creating is much more than a shopping mall. It is a venue where visitors will be able to relax, stroll, sample the local cuisine, meet friends, practice sports and enjoy live shows, fairs and events. Our approach is to bring together nature, families and shopping opportunities in one area, creating a venue that is not solely dedicated to shopping. We are truly excited by the idea that on 1st September all of this will turn into reality," stated Ingo Nissen, Sonae Sierra's Managing Director, in charge of expansion in Romania.
David Sharkey, CEO of Caelum Development, stated: "A wholly new experience is taking shape, and will soon open its doors to the people of Bucharest. ParkLake will be a major innovation for its neighbourhood and the entire city. It will offer new opportunities for shopping, leisure activities, sport and relaxation. ParkLake has already proven to be one of Bucharest's attractions, generating significant interest among international, national and local tenants, who will all contribute to make it an ideal venue, to be enjoyed with family and friends." 
ParkLake focuses on the relationship between the park, nature and families: the mall's design complies with the highest international standards for quality, safety and sustainability, and was awarded the 'Architecture and Design' prize for the shopping mall category at last May's SEE Real Estate Awards. The mall is aiming to be certified according to the specifications of the world's leading evaluation and environmental classification protocol for buildings.
Sonae Sierra is an international shopping mall specialist. It owns 44 shopping malls for a market value of €6 billion. It is in charge of the management of 85 shopping malls, for an overall GLA of 2.3 million m², and a total of approximately 9,100 tenants. In 2015, its malls welcomed over 430 million visits. Sonae Sierra is currently developing 7 new projects, 3 of them for third parties, and has another 4 in the pipeline.

Caelum Development is an Irish company specialised in property development and investment, with more than 15 years of experience on the European real estate market. Caelum Group’s headquarters are located in Warsaw, from where it manages a broad, Europe-wide property portfolio, including several shopping malls, for a total GLA of 200,000 m².

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